YUM BRANDS INC — Director's Dealing 2011

Dec 20, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: YUM BRANDS INC (YUM)
CIK: 0001041061
Period of Report: 2011-12-19

Reporting Person: su Jingshyh S (Director, Chair & CEO - China Division)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-19	Common Stock	M	75316	$13.2775	Acquired	148587	Direct
2011-12-19	Common Stock	S	75316	$57.93	Disposed	73271	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-12-19	Employee Stock Option (Right to Buy)	$13.2775	M	75316	Disposed	2012-01-24	Common Stock (75316)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	278361	Indirect

Footnotes

F1: Pursuant to 10b5-1 Plan

F2: This transaction was executed in multiple trades at prices ranging from $57.91 to $58.02. The price reported above reflects the average price. The reporting person hereby undertakes to provide upon request, to the SEC staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.